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CIM

Courant Investment Management Portfolio holdings

AUM $103M
1-Year Est. Return 14.55%
This Fund
S&P 500
This Quarter Est. Return
-5.18%
1 Year Est. Return
-14.55%
3 Year Est. Return
+33.53%
5 Year Est. Return
+34.8%
10 Year Est. Return
–
AUM
$111M
AUM Growth
-$15.9M
Cap. Flow
-$8.86M
Cap. Flow %
-8.01%
Top 10 Hldgs %
100%
Holding
7
New
–
Increased
1
Reduced
3
Closed
1

Top Buys

Rank Stock Value
1
FISV
Fiserv Inc
FISV
+$8.79M

Top Sells

Rank Stock Value
1
KMX icon
CarMax
KMX
+$11.1M
2
JPM icon
JPMorgan Chase
JPM
+$3.47M
3
ULTA icon
Ulta Beauty
ULTA
+$1.65M
4
SCHW
Charles Schwab
SCHW
+$1.42M

Sector Composition

Rank Sector Weight
1 Financials 64.88%
2 Consumer Discretionary 23.58%
3 Technology 11.54%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
JPM icon
1
JPMorgan Chase
JPM
$941B
$27M 24.38%
83,697
-11,200
-12% -$3.47M
PGR icon
2
Progressive
PGR
$122B
$26.5M 23.92%
116,170
– –
SCHW
3
Charles Schwab
SCHW
$182B
$18.3M 16.58%
183,499
-15,000
-8% -$1.42M
ULTA icon
4
Ulta Beauty
ULTA
$22.2B
$14M 12.68%
23,173
-3,000
-11% -$1.65M
FISV
5
Fiserv Inc
FISV
$28.4B
$12.8M 11.54%
190,000
+105,000
+124% +$8.79M
LOW icon
6
Lowe's Companies
LOW
$116B
$12.1M 10.9%
50,000
– –
KMX icon
7
CarMax
KMX
$8.3B
– –
-247,520
Closed -$11.1M

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Courant Investment Management's Q4 2025 Portfolio in Review

As of Q4 2025, Courant Investment Management held 7 positions worth $111M, down 13% from $127M the previous quarter. Its ten largest holdings account for 100% of the portfolio.

Courant Investment Management withdrew a net $8.86M in Q4 2025, closing 1 position and reducing 3 holdings. Its most notable exit was CarMax, an estimated $11.1M position sold in full.

By sector, the portfolio is most concentrated in Financials at 65% of assets, up from 61% a quarter earlier, followed by Consumer Discretionary and Technology.

Against the trend, Courant Investment Management added an estimated $8.79M to Fiserv Inc.

  • Courant Investment Management added most to Fiserv Inc in Q4 2025, an estimated $8.79M increase.
  • Courant Investment Management's biggest Q4 2025 reduction was JPMorgan Chase, cutting an estimated $3.47M.
  • Courant Investment Management fully exited CarMax in Q4 2025, selling an estimated $11.1M.
  • Courant Investment Management's ten largest holdings make up 100% of its $111M portfolio in Q4 2025.
  • Courant Investment Management opened 0 new positions and closed 1 in Q4 2025.
  • Courant Investment Management's portfolio value fell 13% quarter-over-quarter to $111M.

Based on Courant Investment Management's 13F filing for Q4 2025, filed 22 Jan 2026.